Independent analysis of capital, technology, industry, and long-term change.
10 min read
Daraxonrasib nearly doubled median survival and won a broad FDA label. That result moves targeted therapy into mainstream second-line pancreatic cancer, but says much less about first-line use, resistance, access, or rare RAS genotypes.
8 min read
Moderna succeeded by adding a personalized vaccine to Keytruda in melanoma. BioNTech stopped a vaccine-only colorectal trial. The contrast shows how tumor biology and the surrounding regimen can matter as much as the mRNA design.
11 min read
The SEC has sent a crypto custody draft to White House review, not published a rule. Its larger effect could be institutional access and custodian competition. Crypto prices still depend on self-custody, staking, and segregation terms.
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Treasury can make seasoned bonds easier to trade by buying them from dealers. The program does not reduce federal borrowing because new securities replace the bonds repurchased, leaving deficits and net issuance as the main drivers of long-term yields.
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SpaceX now rents large GPU clusters, owns Grok and Cursor, and spent $15.8 billion on AI infrastructure in one quarter. The hardware demand is real. At $135, SPCX still needs roughly $270 billion of 2030 revenue to earn a 10% return.
9 min read
Coldcard's 2021 firmware integration error produced guessable seeds, letting attackers steal at least 1,778.84 BTC without touching the devices. Affected owners need new seeds, while every hardware-wallet user should test generation, backup, signing, and recovery.
8 min read
CRCL rose 45.8% after Morgan Stanley cut its target. Buyers are valuing Arc as a second earnings engine, while the bank's $37 case remains anchored to USDC balances, reserve yields, and distribution costs.
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Nvidia's Poolside license adds a model development system and more than 100 engineers to Nemotron. Cheaper open intelligence can expand GPU demand, weaken frontier labs' control, and protect Nvidia's platform as models commoditize.
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Intel has proved that 18A can ship real CPUs and its product business is recovering. The stock now values that technical comeback as a commercial foundry success, even though external wafer revenue, committed 14A customers, and free cash flow remain unproven.
Showing 9 of 33 research articles.